Nvidia (NASDAQ: NVDA) has delighted its shareholders with a return of nearly 1,000% since the start of 2023, but Thursday brought investors a rare post-earnings drop as the AI chip leader closed down 6.4% for the day.
While the company beat headline estimates on the top and bottom lines, the sell-off in the stock seemed to have more to do with valuation and growth concerns.
Nvidia is now worth $3 trillion, meaning the upside for the stock has become more limited even as it's still posting blowout growth. Revenue was up 122% in the second quarter to $30 billion, and adjusted earnings per share were up 152% to $0.68.
Source Fool.com